1990 (6) TMI 17 - HC - Income Tax

Summary

The High Court of Bombay ruled that amounts gifted by the deceased to his wife and son were not liable to be included in the estate under section 10 of the Estate Duty Act, 1953. The Tribunal held that the amounts were not includible based on previous Supreme Court decisions. The question of law was answered in the negative, against the Revenue. No costs were awarded.